India and the United Arab Emirates on Friday stressed the importance of safe navigation through the Strait of Hormuz and expanded cooperation in energy, defence and investment during Prime Minister Narendra Modi’s visit to Abu Dhabi.
According to India’s Ministry of External Affairs, Modi held talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan and conveyed India’s “clear position in favour of ensuring safe transit passage and unimpeded navigation through the Strait of Hormuz”, calling it vital for enduring regional peace and stability as well as energy and food security.
The ministry said India also condemned recent attacks on the UAE and expressed solidarity with the Gulf nation, while both leaders discussed regional security, trade and economic cooperation.
The two countries signed a Framework for Strategic Defence Partnership aimed at expanding cooperation in maritime security, cyber defence, military training and advanced technologies.
The UAE also announced investments worth $5 billion in India, including investments by Emirates NBD, Abu Dhabi Investment Authority (ADIA) and International Holding Company.
In the energy sector, India and the UAE agreed to strengthen cooperation on crude oil, LNG and LPG supplies. Abu Dhabi National Oil Company (ADNOC) signed agreements to expand its participation in India’s strategic petroleum reserves and long-term LPG supplies.
The leaders also launched a Virtual Trade Corridor to streamline cargo movement and customs procedures between the two countries.